SMEETS TOM: what changed
Two financial years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
SMEETS TOM
Largest movements
- Receivables after one year -€167,803
down €167,803 (-100%), from €167,803 to €0
- Cash -€103,586
down €103,586 (-54.4%), from €190,343 to €86,756
mainly Debts after one year (-€338,281) and Contributions, distributions and other (-€149,942)
- Tangible fixed assets +€76,694
up €76,694 (+35.6%), from €215,215 to €291,909
of which Leasing and similar rights: +€60,223
- Stocks and contracts +€51,695
up €51,695 (+16.1%), from €321,674 to €373,369
- Debts after one year -€338,281
down €338,281 (-50.8%), from €665,340 to €327,059
- Other debts +€149,942
up €149,942, from €0 to €149,942
- Tax, wage and social debts +€48,206
up €48,206 (+78.4%), from €61,502 to €109,708
of which Taxes: +€44,744
- Trade debts -€15,988
down €15,988 (-4.0%), from €399,230 to €383,243
- Reserves -€15,789
down €15,789 (-72.6%), from €21,751 to €5,962
of which Distributable reserves: -€15,789
- Gross operating margin +€189,404
up €189,404 (+51.6%), from €367,068 to €556,473
- Taxes +€45,031
up €45,031 (+888%), from €5,069 to €50,100
- Depreciation +€13,296
up €13,296 (+37.5%), from €35,467 to €48,763
- Financial charges +€6,780
up €6,780 (+65.8%), from €10,296 to €17,076
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Derived cash bridge
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,166,374 | €1,011,085 | -€155,288 | -13.3% |
| Fixed assets | 21/28 | €220,729 | €297,423 | +€76,694 | +34.7% |
| Tangible fixed assets | 22/27 | €215,215 | €291,909 | +€76,694 | +35.6% |
| Land and buildings | 22 | €45,162 | €33,530 | -€11,632 | -25.8% |
| Plant, machinery and equipment | 23 | €142,654 | €168,188 | +€25,534 | +17.9% |
| Furniture and vehicles | 24 | €5,886 | €10,943 | +€5,057 | +85.9% |
| Leasing and similar rights | 25 | - | €60,223 | +€60,223 | |
| Other tangible fixed assets | 26 | €21,514 | €19,025 | -€2,488 | -11.6% |
| Financial fixed assets | 28 | €5,514 | €5,514 | = | 0.0% |
| Current assets | 29/58 | €945,644 | €713,662 | -€231,982 | -24.5% |
| Amounts receivable after more than one year | 29 | €167,803 | €0 | -€167,803 | -100% |
| Other amounts receivable | 291 | €167,803 | €0 | -€167,803 | -100% |
| Stocks and contracts in progress | 3 | €321,674 | €373,369 | +€51,695 | +16.1% |
| Stocks | 30/36 | €321,674 | €373,369 | +€51,695 | +16.1% |
| Amounts receivable within one year | 40/41 | €258,351 | €247,674 | -€10,676 | -4.1% |
| Trade receivables | 40 | €247,812 | €222,719 | -€25,094 | -10.1% |
| Other amounts receivable | 41 | €10,538 | €24,956 | +€14,417 | +137% |
| Cash at bank and in hand | 54/58 | €190,343 | €86,756 | -€103,586 | -54.4% |
| Deferred charges and accrued income | 490/1 | €7,474 | €5,863 | -€1,611 | -21.6% |
| Total equity and liabilities | 10/49 | €1,166,374 | €1,011,085 | -€155,288 | -13.3% |
| Equity | 10/15 | €40,301 | €24,512 | -€15,789 | -39.2% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €21,751 | €5,962 | -€15,789 | -72.6% |
| Tax-exempt reserves | 132 | €3,627 | €3,627 | = | 0.0% |
| Distributable reserves | 133 | €18,124 | €2,335 | -€15,789 | -87.1% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €1,126,073 | €986,574 | -€139,499 | -12.4% |
| Amounts payable after more than one year | 17 | €665,340 | €327,059 | -€338,281 | -50.8% |
| Financial debts | 170/4 | €665,340 | €327,059 | -€338,281 | -50.8% |
| Amounts payable within one year | 42/48 | €460,732 | €659,355 | +€198,622 | +43.1% |
| Current portion of amounts payable after more than one year | 42 | - | €12,287 | +€12,287 | |
| Financial debts | 43 | - | €4,176 | +€4,176 | |
| Credit institutions | 430/8 | - | €4,176 | +€4,176 | |
| Trade debts | 44 | €399,230 | €383,243 | -€15,988 | -4.0% |
| Suppliers | 440/4 | €399,230 | €383,243 | -€15,988 | -4.0% |
| Taxes, remuneration and social security | 45 | €61,502 | €109,708 | +€48,206 | +78.4% |
| Taxes | 450/3 | €5,256 | €50,000 | +€44,744 | +851% |
| Remuneration and social security | 454/9 | €56,246 | €59,708 | +€3,462 | +6.2% |
| Other amounts payable | 47/48 | €0 | €149,942 | +€149,942 | |
| Accrued charges and deferred income | 492/3 | - | €160 | +€160 | |
| Remuneration, social security and pensions | 62 | €303,429 | €308,080 | +€4,651 | +1.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €35,467 | €48,763 | +€13,296 | +37.5% |
| Other operating charges | 640/8 | €5,311 | €5,983 | +€672 | +12.7% |
| Gross operating margin | 9900 | €367,068 | €556,473 | +€189,404 | +51.6% |
| Operating profit (loss) | 9901 | €22,861 | €193,647 | +€170,786 | +747% |
| Financial income | 75/76B | €6,438 | €7,681 | +€1,243 | +19.3% |
| Recurring financial income | 75 | €6,438 | €7,681 | +€1,243 | +19.3% |
| Financial charges | 65/66B | €10,296 | €17,076 | +€6,780 | +65.8% |
| Recurring financial charges | 65 | €10,296 | €17,076 | +€6,780 | +65.8% |
| Profit (loss) for the period before taxes | 9903 | €19,003 | €184,253 | +€165,249 | +870% |
| Income taxes | 67/77 | €5,069 | €50,100 | +€45,031 | +888% |
| Profit (loss) for the period | 9904 | €13,934 | €134,153 | +€120,218 | +863% |
| Profit (loss) for the period to be appropriated | 9905 | €13,934 | €134,153 | +€120,218 | +863% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 22 October 2026 via checked.be.